Dave Shah grew up in his family’s hotel and watched his parents and other hoteliers struggle to stay in business during the Great Recession. He thinks the economic situation for hoteliers during the COVID-19 crisis is growing worse than that time. Shah founded Pineapple Capital Group five years ago to help hotels and other small business owners buy, sell and borrow. In Episode 258, Lodging Leaders examines what financial solutions are available to hotel owners during the crisis, including the SBA emergency loan programs.
We also talked to Paul Darrow of PHD Financial which specializes in helping small business owners in negotiating distressed debt with lenders. We also feature Jyoti Sarolia of Ellis Hospitality Group who reached out to her bank early in the crisis.
And in a special addition, you’ll hear a story of miracle that is keeping one hotel afloat in the short term.
Resources and Links
While many of the country’s 57,000 hotels have closed during the coronavirus pandemic, owners and operators are spending limited resources and a whole lot of time on retooling their property systems and deep cleaning rooms and public areas. They want to be ready when the nation starts traveling again. And that’s a message that needs read more
As hotels in the U.S. are forced to dramatically scale back operations or close altogether because of the new coronavirus pandemic, government officials are looking to use the empty rooms to fight the spread of the virus or help patients recover. Meantime, hotel operators are taking a fresh look at cleaning procedures to assure guests read more